• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Tennessee Wagering Revenue Improves Slightly In April

Operators have solid month to offset expected drop in handle

Chris Altruda by Chris Altruda
May 24, 2022
in Analysis, Industry
Tennessee April 2022 revenue report

Shutterstock

Share on FacebookShare on Twitter

Tennessee’s Sports Wagering Advisory Council reported more than $27.1 million in gross sports betting operator revenue for April, a slight increase from March despite a sharp, but expected, falloff in handle.

After the NCAA Men’s Basketball Tournament helped push handle to $370 million in March, the amount wagered across the nine digital sportsbooks in the Volunteer State dropped to $292.8 million in April. That 20.9% decline ended a six-month run of handles of at least $300 million and was the lowest in the state since September saw a then-record $257.8 million.

Operators in April, though, posted a 9.3% win rate — more than two full percentage points better than the 7.2% hold in March — to create a 2.3% revenue uptick from March’s total of $26.5 million. It was the eighth consecutive month gross revenue exceeded $20 million in Tennessee after that was achieved only once in the first 10 months after November 2020’s launch.

Running Top 10 April #SportsBetting handles by state:

1 New York: ~$1.4B
2 New Jersey: $926.9M
3 Pennsylvania: $572.8M
4 Michigan: $396M
5 Indiana: $360M
6 TENNESSEE: $292.8M <–NEW
7 Louisiana: $208.3M
8 Iowa: $177.4M
9 Connecticut $116.5M
10 West Virginia: $45.6M

— Chris Altruda (@AlTruda73) May 24, 2022

Promotional spend slowing

Promotional credits totaled just shy of $3.9 million in April, a slight increase from the nearly $3.8 million the previous month. Still, operators have slowed the pace of promotional spend in the first part of 2022, as the $20.6 million is 31.5% less than the $30.1 million in credits distributed in the final four months of last year.

Adjusted revenue after promotional credits totaled $23.2 million, which was 2.2% higher than March’s figure of $22.8 million. The state claimed more than $4.6 million in tax receipts for April and has surpassed $18 million in tax revenue through the first four months of the year. That total is more than $5.1 million better than the $12.9 million collected in the same period in 2021.

For year-over-year comparisons, Tennessee’s handle of nearly $1.4 billion so far in 2022 is 77.9% higher than the $766 million from the first four months of 2021, while gross revenue has increased 64.7% to $110.9 million. Adjusted revenue has improved 40.2% to $90.2 million despite a nearly two-point drop in hold to 6.6%.

The Sports Wagering Advisory Council does not disclose monthly handle and revenue figures by either operator or sport.

ShareTweetShare
Chris Altruda

Chris Altruda

Chris Altruda has been a sportswriter with ESPN, The Associated Press, and STATS over more than two decades. He recently expanded into covering sports betting and gambling around the Midwest. His Twitter handle is @AlTruda73 and can be reached via email at caltruda@bettercollective.com

Related Posts

Credit to: Caitie McMekin USA Today Sports
Promotions

BetMGM Bonus Code Unlocks $50 Bonus Bet and $1K First Bet Offer for Texas vs. Tennessee

January 28, 2023
Tennessee December 2022 revenue report
Industry

Tennessee Rings Out 2022 With Monthly Sports Wagering Records

January 13, 2023
Load More

Top Stories

fanduel-retail-sportsbook-front

Requiem For The So-Called ‘Risk-Free Bet’

February 2, 2023
garnett mgm springfield

Sports Betting Launches In Massachusetts, Giving Three Retail Books A Head Start

January 31, 2023
fanatics-grand-opening

Fanatics Sportsbook At FedEx Field Offers Unique Retail Option In Maryland

January 23, 2023
Shutterstock

Missouri Legislators Lament Exodus Of Bettors To Neighboring States

January 27, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – Where To Play, Bonus Offers And Promo Codes

by Brian Pempus
February 2, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
February 3, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
January 17, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
October 20, 2022

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
October 6, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

gambling therapy
ncpg
igaming ontario
If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-GAMBLER (MI/NJ/OH/PA/WV), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO), 1-800-BETS OFF (IA), 1-888-532-3500 (VA) or call/text TN REDLINE 1-800-889-9789 (TN).
19+. Please play responsibly. Terms and conditions apply. 
Individuals must be 19 years of age or older to participate in igaming in Ontario. Gambling can be addictive, please play responsibly. If you, or someone you know, has a gambling problem in Ontario and wants help, please visit ConnexOntario or call their helpline at 1-866-531-2600. Operators on this website operate pursuant to an Operating Agreement with iGaming Ontario.

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News

loading

Please wait while you are redirected to the right page...

Please share your location to continue.

Check our help guide for more info.

share your location